Novo Resources Corp. (NVO.V) (CVE:NVO – Get Rating)'s stock price was down 0.4% during mid-day trading on Monday . The company traded as low as C$2.37 and last traded at C$2.38. Approximately 311,570 shares were traded during trading, an increase of 14% from the average daily volume of 273,252 shares. The stock had previously closed at C$2.39.

Wall Street Analysts Forecast Growth

Separately, Pi Financial cut their price target on shares of Novo Resources Corp. (NVO.V) from C$1.00 to C$0.75 in a research note on Monday, September 12th.

Novo Resources Corp. (NVO.V) Stock Performance

The firm has a market capitalization of C$548.24 million and a price-to-earnings ratio of -21.25. The company has a quick ratio of 2.57, a current ratio of 2.78 and a debt-to-equity ratio of 11.62. The stock has a 50-day moving average price of C$2.38 and a 200 day moving average price of C$2.38.

Novo Resources Corp. (NVO.V) Company Profile

Novo Resources Corp., together with its subsidiaries, engages in evaluating, acquiring, and exploring natural resource properties in Canada, Australia, and the United States. It primarily explores for gold deposits. The company primarily focuses on the Egina and Beatons Creek projects in the Pilbara region of Western Australia.

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